Pandora Reports Higher Revenue in the Second Quarter

Pandora reported stronger sales in the second quarter, supported by the expansion of its store network and the launch of a new jewelry collection.

The Danish jewelry company said revenue increased 2% year over year on a reported basis and 3% organically to DKK 7.22 billion ($1.11 billion) for the three months ended June 30. Organic growth measures sales in local currencies while accounting for changes in the company’s structure, including the addition or removal of distributors and franchise partners. Like-for-like sales rose 1%, while profit increased 9% to DKK 875 million ($134.9 million).

During the quarter, Pandora introduced its Garden of Dreams collection. The company said the campaign supporting the line, which used marketing channels tailored to local markets, generated strong engagement among consumers.

Pandora continued to record like-for-like sales growth in Spain, Portugal and Poland. However, this performance was partly offset by ongoing weakness in Italy, France, Germany and the UK. North American sales were largely stable despite continued challenges in the broader market. Weaker consumer confidence continued to affect store traffic, particularly among middle- and lower-income shoppers. Latin America and the Asia-Pacific region, led by Japan, posted solid growth.

“We are making progress in reenergizing Pandora’s growth engine,” CEO Berta de Pablos-Barbier said. She noted that the second quarter delivered growth and that the company was seeing encouraging early results from its latest initiatives. While further work remains, she said Pandora is moving in the right direction and has raised its expectations for both growth and profitability in 2026.

Pandora has increased its 2026 forecast to between 0% and 3% organic growth, compared with its previous guidance of a 1% decline to 2% growth. Trading in the third quarter is currently showing mid-single-digit like-for-like sales growth.